CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, delivered the first of up to five Airbus A320neo aircraft to flynas, a Saudi Arabia-based air carrier. The carrier is a new airline customer for CDB Aviation.

“This latest addition of NEO aircraft to flynas’ growing fleet advances its ambitious plans to expand the fleet and increase the scope of its offerings in line with the Vision 2030 program,” Patrick Hannigan, CEO of CDB Aviation, said. “The Saudi market continues to bounce back strongly post-pandemic and flynas will be well-positioned to take advantage of significant pent-up demand.”

CDB Aviation delivered the first aircraft, with a capacity for 174 passengers, in Toulouse, France, as part of the companies’ purchase and leaseback agreements announced in January. CDB Aviation expects to take delivery of the remaining A320neo aircraft and lease them back to the carrier.

“Our commercial team continues to address airlines’ requirements in all corners of the world, leveraging our platform’s leading market position and wide-ranging financing solutions to enhance their fleets and ramp up operations in the face of the progressing recovery across the global air transport industry,” Peter Goodman, chief marketing officer of CDB Aviation, said.